Bakkt Holdings shares rose 8.45% to $8.09 Friday as a broader rally in crypto-linked equities followed a surge in Bitcoin. The move was tied to renewed optimism about U.S. digital-asset regulation after the Clarity Act failed in the Senate. The CFTC (U.S. derivatives regulator) submitted a formal proposal Thursday for regulating crypto-asset transactions and markets, while the SEC (U.S. securities regulator) and CFTC issued coordinated announcements. The developments suggested that federal agencies could begin addressing the legislative gap, potentially benefiting compliance-focused platforms such as Bakkt as clearer rules support institutional participation.